SAN FRANCISCO — The new year starts a new generation – Generation Beta.
Anyone born between 2025 and 2039 is classified under Generation Beta. With the future uncertain, and this generation not able to retire until nearly 2100, one company is helping the first members of Generation Beta get a jump start on saving.
To “encourage a head start on living a better life,” Fortune 500 insurance company Prudential Financial is offering the “Beta Baby Bonus” to every baby born in the United States on Jan. 1, 2025.
The bonus is available to parents or guardians to apply for and get $150 to put toward their new child’s future.
Prudential Financial says the number one regret among current and prospective parents they surveyed is that they “didn’t save more for retirement.”
“While you can’t predict the future, you can plan for it from day one,” said Brandon Goldstein, a financial planner with Prudential Financial. “Most new parents think about updating their healthcare plans or insurance policies, but that’s only the beginning.”
Parents, guardians or loved ones of the first “Beta babies” born in the United States in 2025 can apply for the bonus here. There was no information given on how or when the bonus would be distributed, nor if there are restrictions on how grantees can spend the funds.
Prudential released a report Wednesday showing how current and prospective parents are feeling about Generation Beta’s future.
McCann Worldgroup Truth Central conducted the survey on behalf of Prudential Financial. It consists of 2,008 responses from people over 18 years old between Nov. 1 and Nov. 7, 2024.
The survey found 58% of current or prospective parents believe their children will never retire and 86% of people surveyed believe Generation Beta will have jobs that don’t currently exist.
Citing possible longer lifespans, 66% of respondents predict that retirement will be fluid as people will constantly go in and out of it. To help support possible longer lifespans, 51% of respondents say they think Generation Beta will cure cancer while less than half believe obesity will be eradicated.
Nearly 70% of respondents believe Generation Beta will have more pets than children and 86% believe the “Nuclear Family” dynamic will be left in the past.
Every year an estimated 370,000 babies are born on New Year’s Day, 3% of which are in America, according to UNICEF.